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Liberal Party Backing Boosts Presidential Candidate Gutierrez

COLOMBIA
  • Federico “Fico” Gutierrez received the backing of one of Colombia’s most powerful political parties, boosting his chances in the tight presidential race.
    • The Liberal Party machine is effective at mobilizing votes in Colombia’s different regions, and its backing will be key to help pass reforms through congress, according to Mario Gomez, managing partner for Colombia at risk consulting firm Prospectiva. (BBG)
  • BanRep Decision Due Friday, April 29, 2022 - 1900BST/1400ET
  • All surveyed analysts are anticipating the Colombian Central Bank to continue tightening policy at their April meeting with the most likely outcome another 100bp increase to the overnight lending rate to 6.00%.
  • Continued price pressures have seen the annual headline CPI rate exceed 8.5% alongside rising inflation expectations.
  • Despite the split views among the BanRep board, the ongoing conflict in Ukraine and associated risks to global growth should continue to negate the need for even bolder action at this juncture.
  • Nationwide protests are planned in Colombia to mark the one-year anniversary of riots that led to the resignation of former Finance Minister Alberto Carrasquilla.

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